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A New Tax System (Goods and Services Tax) Act 1999

Chapter 4 - The special rules  

Part 4-7 - Special rules mainly about returns, payments and refunds  


The special rules in this Part mainly modify the operation of Part 2-7, but they may affect other Parts of Chapter 2 in minor ways.

Division 162 - Payment of GST by instalments    View history reference

Subdivision 162-D - Penalty payable in certain cases if varied instalment amounts are too low    View history reference

162-200  Reduction in penalties if GST instalment shortfall is made up in a later instalment  

 View history reference


This section reduces your *GST instalment shortfall, for a *GST instalment quarter of an *instalment tax period applying to you, if:

(a) you pay to the Commissioner a *GST instalment for a later GST instalment quarter of the instalment tax period; and

(b) that GST instalment exceeds 25% of your *annual GST liability for the instalment tax period.

The amount of that excess is called the top up.


The *GST instalment shortfall is reduced by applying so much of the top up as does not exceed the GST instalment shortfall.


However, if some of the top up has already been applied (under any other application or applications of this section) to reduce a *GST instalment shortfall for a different *GST instalment quarter of the *instalment tax period, the GST instalment shortfall is reduced by applying so much of the top up as has not already been applied, and does not exceed the GST instalment shortfall.


The reduction under subsection (2) has effect for each day in the period that:

(a) started at the beginning of the day on which you paid the *GST instalment for the later *GST instalment quarter; and

(b) finishes at the end of the day before which you must, under section 162-110, pay to the Commissioner your *assessed net amount for the *instalment tax period.
 View history reference


This information is provided by CCH Australia Limited. View the disclaimer and notice of copyright.
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